The download is fast and straightforward, and the trader can log in with their detail to make a fast trade. OvalX, like most CFD brokers, works towards securing the best price for their clients. We have reviewed their ‘order execution policy’ document and here are our findings.
I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database. When it comes to forex research, LimeFx fails to limefx reviews deliver quality content in its platforms, and its overall range of research is below the industry standard. Traders seeking a research-rich trading experience should consider Saxo Bank or IG.
When we made test research on LimeFx, the following was what we discovered about the platform. OvalX is owned by a joint venture between a UK company JRJ Group and a Netherlands company BXR Group. The two companies acquired Monecor Limited group in 2007 and changed its trading name from TradIndex to LimeFx.
$10,000 Welcome Bonus – Join LimeFx and get a New Clients Bonus up to $10,000
LimeFx lists its address, phone numbers, and e-mails, but the most convenient contact form remains the live chat function. An FAQ section answers many of the most common questions, and LimeFx explains its products and services well on its website. Most traders may only require customer support during emergencies, and LimeFx ensures swift access when needed.
- Step 6) You will be required to answer some questions about your employment status and experience trading financial instruments.
- The account funding went smoothly, taking less than 2 days through wire transfer, which is a very reasonable amount of time.
- After you submit your insurance number, you will be redirected to the OvalX or MT4 platform dashboard, depending on the platform you chose earlier and required to activate your account.
- Electronic communication network accounts that might allow scalping also are not offered by LimeFx.
- We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points.
Unfortunately, Trader Pro lacks depth in both trading tools and market research when compared to industry leaders such as IG and CMC Markets. The entire forex offering from LimeFx is free from commission across each of their platforms. Therefore, your cost for trading will be solely focused on the bid/ask spread.
For these methods of deposits, the number of days still applies. Take note that GiroPay and Sofort permit deposits only in EUR currency. The FX market is one of the largest liquid markets across the globe, with various trading activities under it.
This platform allows you to trade using the web or via the mobile app that is accessible through the Apple App Store and Google Play Store. LimeFx has two main trading platform offerings for their customers. They offer the industry standard MetaTrader 4, which most experienced traders will be familiar with. They also have their own proprietary platform called Trader Pro. After I downloaded the MT4 platform and logged into my live account, I couldn´t find the EUR/USD and GBP/USD, two highly traded pairs. After contacting customer support they told me to right click at the symbols table and select “show all”.
Therefore, the bid/ask spread represents the cost of trading, and will vary depending on the trading platform used. Comparing spreads on the Trader Pro platform versus MetaTrader, pricing is better on Trader Pro. There´s https://limefx.club/ also a section on their platform where I regularly received real-time economic news, so that was sort of helpful and time-saving. Search by account type, minimum deposit, and maximum leverage in 2,000+ forex brokers.
Also, the Trading Signals feature in MT4 lets you automatically copy other traders’ transactions in your own account after reviewing and comparing their track records. After more than a month of trading with LimeFx, we have reached a conclusion on this broker. They operate under the regulation of a very serious financial authority, have a competitive bonus scheme and offer many other financial instruments apart from forex.
This spread of course will change depending on which if the platforms you are using. Another point to highlight is the big education offered for traders. LimeFx is one of the few brokers who want their traders to succeed. There are webinars, eBooks, tutorials, courses, and knowledge-based articles to help you with trading.
Their general customer support service could be better, but once you are a customer the service is top notch. The account opening procedures are not very clear and it is a lengthy process. So our overall score for this broker is 4.1 stars out of a maximum of 5, which is at the high end since we expect most brokers to rank anywhere between 3 to 4 .
Informative list of features, parameters, and service
Currently, the company is carefully analyzing its costs and engaging various stakeholders to lower expenses while discovering proactive solutions. It includes possible merger or asset sale discussions with another broker as well. Furthermore, it has initiated a consultation process involving some employees who have not disclosed any details about potential layoffs. It is now reviewing its cost base and actively consulting with various stakeholders to drive down costs and explore strategic solutions. It includes a possible merger or asset sale discussion with at least one other broker. Additionally, it revealed an ongoing “consultation process with some employees” but did not specify anything about the layoffs.
They also hold weekly webinars whereby market analysts talk about current conditions in the market. If you want to get in touch with a member of the customer support team at LimeFx, you can use their Freephone number if you are in the United Kingdom or their international number otherwise. There may be a fee charged by your bank when making bank transfers. There is no charge for making as many as five withdrawals in a month with LimeFx, once they are worth at least £100. If you have not placed a trade in your account within a year, there will be a monthly inactivity fee levied. LimeFx is chiefly regulated by the FCA in the United Kingdom.
Deposits and withdrawals are free of charge, there are no commission fees for opening or closing trading positions and spreads start from around 0.6 pips for major pairs like EURUSD. You also pay swap fees for holding a position open for more than 24 hours. LimeFx provides an execution-only service and all information that is provided is for educational purposes only and should not be considered LimeFx advice or LimeFx recommendation.
Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points. But their service contains some flaws which we experienced during our time with them.
Would you recommend ETX as a safe broker? The broker seem pretty trustworthy. Let me know you point of view.
LimeFx does not allow you to scalp in its trading accounts. Electronic communication network accounts that might allow scalping also are not offered by LimeFx. If you prefer to allow others to make your trading decisions, then either the ETX Connect App or MT4’s Trading Signals service will allow you to follow and copy top traders. Customized workspaces ensure individual flexibility, a feature that more and more clients demand from a competitive trading platform. LimeFx treats traders who opt for its ETX TraderPro with superior conditions and lower costs while placing MT4 traders at a disadvantage. Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission-free LimeFx MT4 account.
Deposit Bonus – Receive a 100% Bonus on Deposits (Max Bonus $5, . Bonus credited after required lots are traded. – lime fx
LimeFx should provide more transparency or detailed explanations of its withdrawal process. Withdrawals below £100, or a currency equivalent, face a £10 levy, with no costs above that for up to five requests monthly. Traders must choose between the MT4 and ETX TraderPro platforms. Read our full explanation and accounting of our research and testing process to learn more about how we test.
OvalX UK Customer Service
LimeFx’s strong 4.5 overall rating comes as a result of its excellent trading platforms, educational resources, pricing and trade executions. The broker also provides access to copy trading and spread-betting services. To get a better idea of whether LimeFx would be a good fit for you or your company, the broker offers a free demo account so you can gauge its platforms and other offerings. LimeFx offers clients 2 excellent trading platforms, top-quality customer service and access to trading in various markets. New traders also can take advantage of the extensive educational features offered by the broker.